A former banker from UBS’s Shanghai office was sentenced to nine years in prison in a case involving leaks about a $6.3 billion takeover by Cosco Shipping Holdings Co. The verdicts against the man and two associates were the first criminal convictions in China linked to the Hong Kong Stock Connect, a court said on Thursday. The stock connect is a trading system that connects the city’s market to mainland exchanges in Shanghai and Shenzhen.

Source: Wall Street Journal June 21, 2019 10:07 UTC